Kearny cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexKearnyNew JerseyNational
Cost of living index126131100
IndexKearnyNew JerseyNational
Goods & Services index115118100
Groceries index106116100
Health care index107111100
Housing index162166100
Transportation index111118100
Utilities index98110100
An overview of the general cost of living index for Kearny, NJ is displayed above for your reference. Residents in Kearny, NJ enjoy a cost of living index of 126. This index is 4% lower than the New Jersey average, and 26% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Kearny, NJ, the average cost of goods and services is 3% lower than it is in New Jersey, and it is 15% higher than the national average.

Did you know?

  • The cost of living in Kearny is 4% lower than the New Jersey average.
  • The cost of living in Kearny is 26% higher than the national average.
  • The cost of housing in Kearny is 62% higher than the national average.
  • New Jersey general sales tax is 37% higher than the national average.
  • New Jersey state income tax is 37% lower than the national average.

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Compare Kearny, NJ Cost of living To Other Cities

Salary Calculator

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The salary calculator is used in order to provide a comparison of your current salary in Kearny, NJ to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Kearny, NJ, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Kearny, NJ salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$86,791$7,233$2,025$2,604
Renters$47,771$3,981$1,115$1,433
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Kearny, NJ, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Kearny, NJ homeowners have a median income of $86,791. Using that number, you will come up with a maximum of $2,025 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $47,771, which means there is a maximum of $1,115 to be spent on the costs of renting a home or apartment.

New Jersey Sales Tax

StateGeneral Sales TaxWith Max Surtax
New Jersey7%7%

New Jersey Income Tax

StateIncome Tax (Low)Income Tax (High)
New Jersey1.4%8.97%
When considering the overall cost of living expenses in Kearny, NJ, it's important to take into account the sales tax for New Jersey, as well as the rate for income tax in New Jersey. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for New Jersey is 7%, and the sales tax in the state of New Jersey is 7%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in New Jersey starts from 1.4% and goes up to 8.97%.

Goods & Services

ItemKearnyNational avg.Difference
Haircut $19.00$14.5930.2%
Beauty Salon $33.75$34.682.7%
Toothpaste $2.29$2.477.4%
Shampoo $1.00$1.022.2%
Movie $11.70$9.8718.6%
Bowling $4.55$4.393.6%

Groceries

ItemKearnyNational avg.Difference
Ground Beef $4.39$4.481.9%
Fried Chicken $1.99$1.4635.9%
Milk $2.77$2.3617.5%
Potatoes $3.39$3.0610.7%
Pizza $8.00$9.2413.4%
Beer $9.19$8.636.5%

Health Care

ItemKearnyNational avg.Difference
Optometrist $91.25$99.788.5%
Doctor $90.00$105.0314.3%
Dentist $107.25$88.7020.9%
Ibuprofen $9.49$9.410.8%
Lipitor $341.01$298.5014.2%

Housing

ItemKearnyNational avg.Difference
Home Price $311,200.00$175,700.0077.1%
Avg. Mortgage Payment $1,790.20$1,081.0365.6%
Apartment Rent $1,181.00$920.0028.4%

Transportation

ItemKearnyNational avg.Difference
Gasoline $2.17$2.093.7%
Tire Balancing $59.16$45.2930.6%

Utilities

ItemKearnyNational avg.Difference
All Electricity$159.41$170.806.7%
Phone $29.75$28.265.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
East Orange, NJ64,53811313%
Newark, NJ278,75011414%
Roselle, NJ21,34811414%
Silver Lake, NJ3,59412323%
Paterson, NJ146,34111919%
Kearny, NJ41,53812626%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bartlett, IL41,52911818%
Oro Valley, AZ41,49311212%
Buffalo Grove, IL41,61312222%
Westfield, MA41,37112020%
Rohnert Park, CA41,35213232%
Kearny, NJ41,53812626%
Source: The Kearny, NJ cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.